Anavex Life Sciences Corporation (NASDAQ: AVXL): Stock Forecast For 2024 Sees A A Decline Of -45.43%

In the last trading session, 1.47 million shares of the Anavex Life Sciences Corporation (NASDAQ:AVXL) were traded, and its beta was 0.57. Most recently the company’s share price was $4.54, and it changed around -$0.48 or -9.56% from the last close, which brings the market valuation of the company to $372.78M. AVXL currently trades at a discount to its 52-week high of $10.45, offering almost -130.18% off that amount. The share price’s 52-week low was $4.48, which indicates that the current value has risen by an impressive 1.32% since then. We note from Anavex Life Sciences Corporation’s average daily trading volume that its 10-day average is 1.18 million shares, with the 3-month average coming to 1.48 million.

Anavex Life Sciences Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended AVXL as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Anavex Life Sciences Corporation is expected to report earnings per share of -$0.11 for the current quarter.

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Anavex Life Sciences Corporation (NASDAQ:AVXL) trade information

Instantly AVXL has showed a red trend with a performance of -9.56% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -51.24% year-to-date, but still down -0.22% over the last five days. On the other hand, Anavex Life Sciences Corporation (NASDAQ:AVXL) is -14.02% down in the 30-day period. We can see from the shorts that 20.0 million shares have been sold at a short interest cover period of 13.62 day(s).

The consensus price target as assigned by Wall Street analysts is $11, which translates to bulls needing to increase their stock price by 58.73% from its current value. Analyst projections state that AVXL is forecast to be at a low of $11 and a high of $11.

Anavex Life Sciences Corporation (AVXL) estimates and forecasts

Anavex Life Sciences Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -30.69 percent over the past six months and at a -5.00% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.30% in revenue this quarter, and will report an increase of 14.30% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.03%.

AVXL Dividends

Anavex Life Sciences Corporation’s next quarterly earnings report is expected to be released around May 07 and May 13.

Anavex Life Sciences Corporation (NASDAQ:AVXL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.14% of Anavex Life Sciences Corporation shares, and 32.06% of them are in the hands of institutional investors. The stock currently has a share float of 33.11%. Anavex Life Sciences Corporation stock is held by 214 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 7.25% of the shares, which is about 5.94 million shares worth $48.28 million.

State Street Corporation, with 5.38% or 4.41 million shares worth $35.84 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 2.95 million shares worth $23.34 million, making up 3.61% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.27 million shares worth around $18.43 million, which represents about 2.77% of the total shares outstanding.